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Has The Smart Money Found A Winner in Infoblox Inc (BLOX)?

As one would reasonably expect, key hedge funds have jumped into Infoblox Inc (NYSE:BLOX) headfirst. Glazer Capital, managed by Paul Glazer, initiated the largest position in Infoblox Inc (NYSE:BLOX). The fund reportedly had $23.1 million invested in the company at the end of the quarter. Robert Emil Zoellner’s Alpine Associates also made a $20.7 million investment in the stock during the quarter. The other funds with new positions in the stock are Gordy Holterman and Derek Dunn’s Overland Advisors, Simon Davies’ Sand Grove Capital Partners, and Noam Gottesman’s GLG Partners.

Let’s now review hedge fund activity in other stocks similar to Infoblox Inc (NYSE:BLOX). We will take a look at Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), Multi-Color Corporation (NASDAQ:LABL), Abaxis Inc (NASDAQ:ABAX), and Redwood Trust, Inc. (NYSE:RWT). This group of stocks’ market values are similar to BLOX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ACHN 27 348980 5
LABL 7 45924 3
ABAX 8 26481 -2
RWT 11 141284 0

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $141 million. That figure was $438 million in BLOX’s case. Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is the most popular stock in this table. On the other hand Multi-Color Corporation (NASDAQ:LABL) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Infoblox Inc (NYSE:BLOX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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